Apollo Micro Systems Shares Bounce Back After Deposit for Premier Explosives Takeover

Apollo Micro Systems shares bounced back three percent after touching an intraday low of 389 rupees and 65 paisa on the NSE during Monday's trading session. The stock opened at 402 rupees per share, compared to its previous close of 398 rupees and 75 paisa on Friday last week.

Acquisition Details

Apollo Micro Systems Limited deposited 986 crore and 35 lakh rupees into a special escrow account with the State Bank of India to facilitate its share acquisition in Premier Explosives Limited. The company stated in a regulatory filing that its open offer to acquire 1 crore 39 lakh 77 thousand 600 equity shares, which is 26 percent of Premier Explosives' equity capital, received a positive response from public shareholders. The open offer ran from October 12, 2026, to October 26, 2026, and was oversubscribed by 1.41 percent. The entire purchase consideration has now been placed in the escrow account for payment to eligible public shareholders. This follows a Share Purchase Agreement signed on July 9, 2026, under the SEBI Substantial Acquisition of Shares and Takeovers Regulations of 2011.

Stock Performance And Expert Views

In the near term, Apollo Micro Systems shares rose 2.66 percent over the past week and 1.51 percent over the past month. On a year-to-date basis, the shares surged 44.91 percent, while gaining 44.49 percent over the past year. Over three years, the defence stock rallied 314.24 percent, and over five years, it delivered a return of 3,324.23 percent. Sumeet Bagadia, Executive Director at Choice Broking, stated that the stock looks positive on technical charts and advised investors to hold with a stop-loss at 399 rupees for a target of 470 rupees. Mahesh M Ojha, VP Research and Business Development at Kantilal Chhaganlal Securities, cited sound fundamentals and encouraging quarterly results, recommending accumulation with a stop-loss below 370 rupees and upside targets of 440 rupees, 460 rupees, and 475 rupees plus.

Context

Corporate takeovers in India follow strict guidelines set by market regulators to ensure fair treatment of all public shareholders through open offers. Escrow accounts are commonly used financial mechanisms that securely hold funds until transaction conditions are fully met.